Associated PressCEOs Ask Bush to Back Climate Protection
By H. JOSEF HEBERT 01.22.07, 11:45 AM ET
The chief executives of 10 major corporations and business groups, on the eve of the State of the Union address, urged President Bush on Monday to support mandatory reductions in climate-changing pollution and establish reductions targets. [...]
Have a look at the companies that petitioned President Bush. They want a "cap and trade" policy. They are also some of the largest pollutors. They are certainly going to profit by this. If they choose to not meet the emission standards, they can purchase the right to pollute from someone who has beat the emissions cap. That means they don't have to fork out for the expensive upgrades to their factories.
Bush is being pressured by Democrats and large polluters to do something he has been against: setting up a "cap and trade" policy, since it STILL allows polluters to pollute. It would be interesting to see where the "we love the environment" Dems that are pushing a similar policy are getting their funding.
Meanwhile, the smaller businesses (such as construction, and manucfacturing) are going to get hammered by the caps even though they pollute less than the utility and chemical companies, and Alcoa. They can't afford the upgrades and won't be able to trade emission credits
since they don't have much to offer.